Where to Buy Altcoins in 2023? – Beginner’s Guide

As there are thousands of altcoins to buy circulating today, it can be difficult to keep up with everything happening – what are all of these coins circulating alongside Bitcoin?

At the moment, there are more than 2000 cryptocurrencies listed on exchanges. Researching each one is a challenge. Yet, it is possible to encounter a great investing opportunity sooner or later. Crypto returns can be astronomical, so don’t miss out on this opportunity. If you want to buy altcoins, keep in mind that they are more complex and riskier to buy than they look. Here’s how to buy altcoins in 2023 safely, thanks to this guide.

Where to Buy Altcoins – Step by Step Guide 2023

Where to Buy Altcoins – List

1. eToro – The Best Platform To Buy Altcoins
2. Binance – Excellent Platforms Where To Buy Altcoins
3. Coinbase – US-Based Platform To Buy Altcoins Now
4. Gemini – Regulated Broker To Buy Altcoins
5. Bittrex – Global Platform To Buy Altcoins

Where to Buy Altcoins

1. eToro – The Best Platform To Buy Altcoins

We recommend that you use eToro as the best platform to find altcoins to buy. That is because it is the only cryptocurrency exchange platform that is highly regulated. Aside from the FCA and CySEC in the UK, the firm also holds licenses from other Tier-1 regulatory agencies in other countries. Therefore, you can invest in eToro with total confidence that your capital is well protected when you put it into it. This kind of level of security is unlikely to be found on any other cryptocurrency exchange platform. On top of this, you can also trade other altcoins besides Bitcoin on the platform. Some examples are Ripple, Cardano, and Ethereum.

According to your location and jurisdiction, you can also trade derivatives on altcoins offered by eToro, depending on where you are located. In this case, you can trade Bitcoins for other altcoins or the currency of your account, for example. In addition, BTC can also be exchanged for USD or ETH, depending on your preferences. Because eToro does not charge commissions on trades, the company makes its money through the spreads they charge on your trades.

Pattern recognition and momentum analysis are essential aspects of cryptocurrency trading, particularly Bitcoin. Beginners, however, may not be able to trade as effectively as experienced traders. eToro’s copy trading tools allow you to follow the trades of other successful traders. That is where passive trading tools come into play. By filtering their gains and trade instruments or counting the number of copier accounts, it is possible to find over a thousand traders to copy. You can choose a trader you wish to copy simply by clicking on the copy button and choosing the amount you wish to spend copying their trades. Furthermore, the eToro online trading platform permits its users to deposit money using various payment methods, such as bank transfers, debit/credit cards, and e-wallets such as PayPal. The best place to invest in crypto assets right now is eToro, without a doubt.

eToro fees

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Binance – Excellent Platforms Where To Buy Altcoins

Binance is the world’s largest cryptocurrency exchange based on daily trading volume. It has had enormous success in just four years since Binance was founded in 2017.

Those who choose to trade on this cryptocurrency exchange are charged fees when they do so, but they do not pay fees for deposits on the site. By using BNB, users can reduce the fee they pay when doing so.

The security and safety standards adhered to by this exchange are high to protect its users’ sensitive information. Additionally, it is a very liquid exchange. It is possible to trade more than 500 altcoins, including Ethereum, Litecoin, and Dogecoin. You can also get BNB to buy LuckyBlock, the most promising coin of 2023.

You must submit KYC information before trading. Furthermore, this platform offers various services, including cryptocurrency staking and fiat currency conversion. Investing in altcoins can be a great investment right now, thanks to Binance.

Binance fees

Your money is at risk.

4. Coinbase – US-Based Platform To Buy Altcoins Now

Coinbase was founded in 2012 and operated as a cryptocurrency exchange and wallet. It is used by more than 73 million people in over 100 countries. Furthermore, it is trusted by more than 10,000 institutions and 185,000 ecosystem partners.

It makes buying, selling, and dealing in altcoins easy for beginners. Additionally, it ensures the security and safety of its users’ information on its platform, in addition to providing a secure trading environment. Almost all cryptocurrency wallets offer two-factor authentication (2FA) for additional security.

On its platform, users can trade various digital currencies for a fee. This user-friendly platform requires a minimum deposit before users can trade. Investing in crypto on this platform is a great option.

Coinbase fees

Your money is at risk.

5. Gemini – Regulated Broker To Buy Altcoins

Mobile traders will love Gemini’s altcoin trading platform. Depending on how you want to trade, you can choose between three different trading apps for iOS and Android.

Most traders will need Gemini’s custom Bitcoin wallet as their first app. The wallet is highly secure, and you can store cryptocurrencies easily. The second application lets you exchange fiat currency for Bitcoin and other digital currencies.

In addition to Bitcoin, this brokerage offers trading in over 45 altcoins. In the US, Gemini is regulated by the New York State Department of Financial Services, so some rules are designed to protect customers. The company only accepts customer service requests via email. However, you could give it a try and find the best altcoin to invest in right now.

Gemini fees

Your money is at risk.

6. Bittrex – Global Platform To Buy Altcoins

The Bittrex blockchain platform is a blockchain crypto trading platform offering crypto trading, digital wallet services, account security, and more. The Bittrex Global platform, on the other hand, specializes in international trading.

Another platform feature is placing instant buy/sell orders, storing multiple wallets, and automating trading. The company was founded in 2014 by Rami Kawach, Richie Lai, and Bill Shihara.

The Bittrex mobile app can be downloaded on Android and iOS devices.

Bittrex fees:

Your money is at risk.

Where to Buy Altcoins – Fee Comparison

What is an Altcoin?

In 2009, Bitcoin began the story of cryptocurrencies. Since the genesis block, it has had the following parameters:

• There are only 21 million Bitcoins.
• New coins are created every 10 minutes.
• Bitcoin is mined and secured by massive amounts of computing power.
• It is designed to be a payment method.

As you can see, there are predefined parameters, uses, and niches for Bitcoin. Although Bitcoin is a technological breakthrough, it offers many more opportunities due to its technology. Although it is the first fully decentralized digital currency, it also paves the way for many other projects and altcoins. According to many visionary entrepreneurs and technology pioneers, thousands of ways exist for distributed ledger technology (DLT) to revolutionize our lives. That is where altcoins come in.

Altcoins are “alternative coins.” It’s a generic term for cryptocurrencies that aren’t bitcoin. Ethereum, Litecoin, Ripple, Tron, Verge, EOS, and other altcoins are popular examples.

Many altcoins are just straight-out copies (forks) of Bitcoin’s open-source protocol. Others are just cash-grabs or failed experiments. Despite that, many exciting ventures have unique value propositions, solutions, and characteristics. The chaff must be separated from the wheat.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Why Buy Altcoins?

Altcoins are a nascent market. That is an unequal pairing. The number of altcoins listed on cryptocurrency exchanges has increased dramatically in the past decade, with new coins appearing on the market almost daily. However, such investors lack the capital necessary to generate adequate market liquidity. Altcoin valuations experience quicksilver volatility due to thin markets and lack of regulation.

Ethereum’s Ether, which peaked at $1,299.95 on Jan. 12, 2018, was another example. A few weeks later, its price dropped to $597.36, and by the end of the year, Ether was down to $89.52. Two years later, in November of 2021, Ether reached record prices of over $4,750. Traders can make a lot of money from timing their trades.

However, there is a catch. The cryptocurrency market is not yet mature. Despite several attempts, cryptocurrency cannot be evaluated based on defined criteria or metrics. Altcoin markets are largely driven by speculation. It is not uncommon to find dead altcoins that failed to gain enough traction or simply disappeared after collecting investors’ money.

Thus, altcoins are suitable for investors willing to accept the outsized risk of operating in an unregulated and emerging market subject to volatility. For such investors, cryptocurrency markets can offer great returns, but they must also handle the stress caused by wild price swings. Besides its trading opportunities, the altcoin market also offers other financial opportunities such as staking or places where to buy NFTs.

How Much Does It Cost to Buy Altcoins?

Depending on the type of Altcoin, its price can range from a couple of cents to thousands of dollars. For example, the price of Ethereum was trading in November 2021 at around $4,500, while the price of Ripple’s XRP, the sixth most valuable altcoins, was trading at $1.10.

How to Buy Altcoins with PayPal

PayPal requires you to create an account before buying crypto with it. With a PayPal account, you can buy crypto by clicking a button that says “crypto” and choosing the coins you’d like some altcoins to buy.

Bitcoin Cash, Ethereum, Litecoin, and Bitcoin can all be purchased on the PayPal app. However, if you’re a new investor, you should stick to Bitcoin and Ethereum instead.

A linked debit card, linked bank account, or available funds are all required to complete your purchase. The cost of living can vary from $1 to $100,000 a week. Like many crypto exchanges, PayPal charges a fee based on buying or selling crypto.

How to Buy Altcoins with Bitcoin

At most cryptocurrency exchanges, you can also buy Altcoins with Bitcoin. So, instead of using a bank account or a credit card, you can fund your trading account with Bitcoin. To fund your BCH trade, you will need to link your Bitcoin wallet to your exchange account.

Buying Altcoins Safely

If you want some altcoins to buy safely, you should use a regulated cryptocurrency exchange. Financial watchdogs like the UK’s Financial Conduct Authority (FCA) oversee regulated exchanges like eToro. By following all financial laws, they ensure an exchange is looking out for the interests of its customers.

Choosing the right crypto wallet to store your altcoins is also critical. Several exchanges offer their wallets, which can vary in security. It would help if you used a crypto wallet for which you only have the encryption key and well-documented security measures.

Risks of Buying Altcoins

Buying altcoins have some risks when it comes to cryptocurrency.

One of the most frequent risks is the possibility of losing your investment. If Altcoins fade in popularity, you may be able to sell the coin for less than you paid.

Additionally, Altcoins themselves may be vulnerable to a hack. Considering Altcoins use the same underlying blockchain security as Bitcoin, which has proven extremely secure, this seems unlikely to happen. BCH, however, is a decentralized currency, so this is a risk.

Finally, your cryptocurrency exchange may be hacked or go out of business at any time. Since you control your coins, this is not a big deal if you have your crypto wallet. If you use an FCA-regulated broker, you will also be protected up to £85k under the Financial Services Compensation Scheme.

Selling Altcoins

You can do so through a cryptocurrency exchange when you want to sell Altcoins, either to reap a profit or invest in another altcoin. Almost every exchange where you can buy altcoins allows you to sell them. You only need to log into your exchange account, link your crypto wallet, and then you can place an order to sell altcoins.

Because Altcoins are such a popular cryptocurrency, you should not have any issues with liquidity when you decide to sell them.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Altcoins Price Prediction

Ethereum (ETH)

In 2021, Ethereum continued to generate momentum, and it is important to recognize how its price value jumped after ETH 2.0 was announced to be released.

Analysts claim that this upgrade project will be continued in 2023 as well, causing an ETH price jump – up to $6,000 by the end of 2022. According to billionaire investor Mark Cuban, Ethereum has more potential to grow than Bitcoin.

As far as he is concerned, ETH/L2s are more attractive. There is no need to argue the Trilemma, halving, or inflation, especially since he can see unlimited applications that will forever change the business/consumer world. To use them, you must purchase Eth/L2. Unfortunately, that is not the case for BTC.

Binance Coin (BNB)

Binance Coin is among the most popular cryptocurrencies today, thanks to more than $1 billion daily trade volume. However, the biggest threat is price volatility, as some analysts predict that the prices will plummet. Binance is still expected to cross the $1000 mark by the end of 2022, at least according to some bulls.

Solana (SOL)

Even though the price of the Solana coin may have started to rise in February, the coin did not feel the crash that happened in late spring as strongly as ETH and BTC.

Having experienced a slow surge in June and July, its value broke through its barrier in mid-August and continued to rise until September. The experts predict that by 2022, the SOL price will become more stable, reaching $300 or even topping $400.

Dogecoin (DOGE)

Almost two years ago, some analysts were predicting the reason behind DOGE’s sudden rise and, therefore, claimed DOGE is an investment worth having in the long run.

According to the predictions for 2022, the crypto is predicted to hit $0.27 by the end of this year and reach $0.3 towards the beginning of the next year.

Shiba Inu (SHIB)

Shib jumped in May, but DOGE quickly followed suit and pushed it back down. In June of this year, it was only that crypto started making progress towards the top of the heap. According to some analysts, the price of SHIB is expected to reach $0.00007698 by June 2022 and reach $0.00008267 by the end of the year.

Terra (LUNA)

It is predicted that the price of LUNA may cross the $105 mark by 2022 and that the price may reach a maximum value of more than US$120.

Cardano (ADA)

The ADA token has grown by approximately 600% from year to date. According to many market analysts, the price of bitcoin will cross the $2.00 barrier during the first quarter of 2022 and reach upwards of $3.00.

Polkadot (DOT)

DOT’s price is expected to jump high as its creators are developing their blockchain platform and clearing the way to get it listed on the major cryptocurrency exchanges worldwide, taking the price up to $60.00 in the near future.

Cosmos (ATOM)

The best-performing layer 1 altcoin in 2022, according to Marcus Sotiriou, an analyst at UK digital asset broker GlobalBlock, is likely to be Cosmos (ATOM), due to its significant adoption from major assets, such as Binance Chain, OKEx, Crypto.com, Terra (LUNA), Binance Chain (BNB), Crypto.com (CRO), OKEx Chain (OKEx), and Thorchain (RUNE).

Avalanche (AVAX)

It is estimated that AVAX will cross an average price of $130 by 2022, based on technical analysis and price prediction. As director of Voyager Digital, a cryptocurrency platform, Steve Ehrlich asserted that it is just now that the markets are beginning to realize the scale, speed, and efficiency that are already present and flourishing with Avalanche.

It maintained that as the other platforms struggle with scaling up, there will be an increasing number of investors and users who will flock to platforms that can handle the throughput.

Best Way to Buy Altcoins – eToro Tutorial

Step 1: Open an Account with eToro

To sign up for eToro, go to the bottom of this page and click on the button “Join Now.” Registering for eToro is free and easy to do.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

The information about the user will include their name, phone number, email address, password, and username. In addition, users will register directly through their Facebook or Google accounts.

Step 2: Upload ID

During the KYC process, you must provide proof of identity and all the necessary documents. Most of the time, this process takes a few minutes.

Step 3: Deposit Funds

In order to deposit funds into your account, you need to click on the ‘Deposit Fund’ button once you have completed the KYC process.

A variety of methods can be used to deposit funds. Cards such as Visa and MasterCard, PayPal, Bank transfers, e-wallets such as Skrill and Neteller, Trustly, and Rapid Transfer are available as payment methods.

Step 4: Buy Altcoins

On the next screen, you will see a trade button. In the search box at the top, look for the cryptocurrency you are seeking – for example, Bitcoin – and click it. After entering the amount of money you wish to buy altcoins, you will be presented with a window to choose an open trade.

eToro – Best Crypto Exchange to Buy Altcoins in the US With 0% Commission

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

What is an altcoin?

An altcoin refers to a cryptocurrency other than Bitcoin (and sometimes also refers to a cryptocurrency other than Ether). A coin such as this distinguishes itself from Bitcoin by improving its capabilities and plugging its shortcomings.

What are the best altcoins in the market?

Among the top ten altcoins are Ethereum, Binance Coin (BNB), Tether (USDT), Solana, Cardano, XRP, Polkadot, Dogecoin, USD Coin, and Shiba Inu.

What is the market cap of Ether?

The market cap of Ethereum is $361,060,492,832

If I want some altcoins to buy, do I need a crypto wallet?

The answer is yes; to buy altcoins, you will require a crypto wallet. Most crypto exchanges, including eToro, offer their built-in crypto wallets. It is also possible to download a third-party wallet and connect it to your exchange account.

Can I buy altcoins in the US?

Yes, cryptocurrency exchanges and purchases are completely legal in the United States. Even though there is no federal legislation on crypto assets in the US, agencies at the federal level have offered guidance to states on the topic.

How much money do I need to buy altcoins in the United States?

Although you may need some funds, it should not be an overwhelming amount of money. Some experts suggest that you allocate no more than 2–3% of your portfolio to cryptocurrency. The best answer is not to bet more than you can afford to lose.